Terms agreed for acquisition of Manchester-based cash shell

The CBG Board and the Independent Director has announced that they have agreed the terms of a recommended offer to be made by Zeus Capital on behalf of CBG for the entire issued and to be issued share capital of PenMc.

Manchester broker CBG has offered one new share for every 1,000 PenMc Shares.

Based on the mid-market price of 189.5 pence per share of a CBG Share on 10 December 2007, being the latest practicable date prior to the date of the Offer Document, the Share Offer values the entire existing share capital of PenMc at approximately £185,989.

There is a Cash Alternative of 0.16 pence for every PenMc Share. The Cash Alternative values the existing share capital of PenMc at approximately £157,036.

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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